Matador Resources (NYSE:MTDR) Receives “Buy” Rating from Benchmark

Matador Resources (NYSE:MTDR)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a research note issued to investors on Friday,Benzinga reports. They currently have a $62.00 target price on the energy company’s stock. Benchmark’s price objective would suggest a potential downside of 1.42% from the company’s current price.

Several other equities research analysts also recently commented on the stock. TD Cowen lifted their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley began coverage on shares of Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective on the stock. KeyCorp lowered their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Price Performance

Shares of NYSE:MTDR traded down $0.49 during trading on Friday, hitting $62.90. 119,788 shares of the company were exchanged, compared to its average volume of 1,092,029. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a market capitalization of $7.85 billion, a P/E ratio of 8.32 and a beta of 3.24. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $57.79 and its 200-day moving average is $56.13.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast that Matador Resources will post 7.46 earnings per share for the current year.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the acquisition, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 4,285 shares of company stock worth $232,849. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Matador Resources by 1.5% in the second quarter. Envestnet Asset Management Inc. now owns 202,960 shares of the energy company’s stock valued at $12,096,000 after purchasing an additional 2,978 shares in the last quarter. Renaissance Technologies LLC bought a new position in Matador Resources during the 2nd quarter valued at $10,162,000. Mutual of America Capital Management LLC boosted its holdings in Matador Resources by 0.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 66,440 shares of the energy company’s stock worth $3,960,000 after acquiring an additional 424 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Matador Resources in the 2nd quarter worth $1,313,000. Finally, Amalgamated Bank raised its holdings in shares of Matador Resources by 25.5% in the second quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock valued at $4,352,000 after purchasing an additional 14,850 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.